Recall that 106 shoppers at a shopping mall in Muncie, Indiana, responded to the question, '"Made in the USA' means what percentage of U.S. labor and materials?" Sixty-four shoppers answered, "100%."
a. Define the population of interest in the survey.
b. What is the characteristic of interest in the population?
c. Estimate the true proportion of consumers who believe "Made in the USA" means 100% U.S. labor and materials using a 90% confidence interval.
d. Give a practical interpretation of the interval, part c.
e. Explain what the phrase "90% confidence" means for this interval.
f. Compute the sample size necessary to estimate the true proportion to within .05 using a 90% confidence interval.
For Information: Refer to Exercise 2.152 and the Journal of Global Business (Spring 2002) survey to determine what "Made in the USA" means to consumers.